The presidential 3rd party spoiler of George H W Bush's second term, Ross Perot, and the man that gave us Bill Clinton as president for 8 years is not endorsing either Mitt Romney or Barack Obama this time around in Election 2012. Instead, the Texas billionaire is saying that with our impending economic collapse in 2012 or soon thereafter, we could be taken over by a foreign country.

That is correct, Ross Perot says that because of neither party's ability to do anything meaningful to reduce our out of control debt, we could lose our country. In an interview with CSPAN, Perot said,

â€œWeâ€™re on the edge of the cliff, and we have got to start fixing it now. Otherwise, weâ€™re leaving a disaster to our childrenâ€™s and our grandchildrenâ€™s future.â€

Unfortunately, several politicians have been saying that for some time now, but because either they aren't bold enough to keep saying it again and aagain, because you do have to drill some of these things in to quite dense heads in Congress, or not enough other politicians will get behind those sounding the alarm, we are in for some serious trouble in the United States.

It is astounding that although both Romney and Obama are not saying or doing enough, at least Romney and Ryan are asking us to look at stark realities, but they are getting ripped to shreds by the main stream media. What is even more astounding is that Romney and Ryan are being accused of wanting to take Medicare and Social Security away from Seniors, but even what they are being accused of proposing, but not actually doing, still isn't enough to solve the real problem.

While we don't really owe enough money to any one foreign entity to have them take us over and rewrite the Constitution, both China and Japan could cause us some serious havoc if they called in their loans all at once. Of the $16 trillion in debt we are in the debt for, we owe $1.16 trillion to China and $1.12 trillion to Japan for a combined total of $2.28 trillion both countries which is about $200 billion short of the total revenue we collect in taxes. With the added $1.32 trillion we plan to spend over our revenue you can see that we will never be able to pay off the debt to those countries and other entities that hold our debt.

And if China or Japan said either give us the money you've owe us or give us the property or capital equivalent which would essentially mean we would voluntarily give away real estate, printed money or ownership of other entities, we would be in serious trouble. If we gave away worthless paper money that we printed, it would trash the dollar, but neither country would want it in the first place.

Sounds like we better get out debt under control. But truthfully, no one is really talking the very difficult things that need to be done to accomplish that. So hold on, because economic collapse is coming very soon.